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The Michigan Schools and Government Credit Union (MSGCU) is headquartered in Clinton Township, Michigan, and has a membership size of more than 137,000 and assets of over $3.7 billion. MSGCU was founded in 1954 and is a not-for-profit financial institution , which is owned and operated by its members.
The Michigan State University Federal Credit Union (MSUFCU) is a credit union headquartered in East Lansing, Michigan. Primarily serving students and alumni of Michigan State University and Oakland University , MSUFCU is federally chartered and regulated by the National Credit Union Administration (NCUA) .
*Note: this list includes joint-ventures based in Michigan, subsidiaries of Michigan-based companies also located in Michigan, and companies based in Michigan currently owned or controlled by private equity, venture capital, or other similar entities. Below is a separate list of outside companies with a significant presence in Michigan.
The National Credit Union Administration is the U.S. independent federal agency that supervises and charters federal credit unions. As of December 31, 2022, there were 4,760 federally insured credit unions in the United States with 135.3 million members.
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Batesville Casket Company ; Berry Global ; Better World Books ; Calumet Specialty Products Partners (Indianapolis) Chicago South Shore and South Bend Railroad (Michigan City) CNO Financial Group ; Cummins ; DirectBuy (Merrillville) Do It Best ; Elevance Health (Indianapolis) Eli Lilly and Company (Indianapolis)
The bank moved its headquarters from Midland, Michigan to Detroit in 2018. [21] In 2020, TCF sold all 7 of its branches in Arizona to Global Credit Union. [22] TCF was acquired by Huntington Bancshares in June 2021, and sold 13 branches in Michigan to Horizon Bank to gain regulatory approval for the merger. [23] [24] [25]
As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. [5] Total credit union assets in the U.S. reached $1 trillion as of March 2012. [6]